The announcement was made at a meeting between Cherkizovo’s Chairman Igor Babayev and the Group’s General Director Sergei Mikhailov and Voronezh Region Governor Aleksei Gordeyev

The Cherkizovo Group managers said that the company plans to set up two hog raising and fattening modules in the Nizhnedevitski and Semilukski municipal districts.

The meeting with the region’s governor also discussed the problem of obtaining by investors of federal subsidies for repaying interest rates on credits.

Igor Babayev said that there are no complaints in respect of financial support provision on the regional level, but the main difficulties are related to non-availability of federal financing.

Lack of subsidies was said to be one of the principal factors preventing entrepreneurs from making long-term plans in the agricultural sphere.

“I have been raising this subject at the highest level since spring of this year,” said
Aleksei Gordeyev.

“There have been instructions by both RF President Vladimir Putin and by RF Prime Minister Dmitri Medvedev. The subject of subsidies has been repeatedly raised and continues to be raised at meetings of different levels. We go on working on our level and hope that little by little the issue will be settled, the debts will be repaid.”

Igor Babayev also called on the Governor to support cutting down the time period for an electrical substation construction in Nizhnedevitski District where the Company is building one of its investment projects.